Channel 6, a new Irish TV station aimed at viewers between 15 and 34, is hoping be on air before the end of the year with a €10 million investment behind it.

Michael Murphy, one of the shareholders in the project, said yesterday he hoped that the station would be on air before the end of the year, or early next year at the latest. He said that the Irish TV market was not competitive and that similar sized markets were able to accommodate up to 20 TV channels.

He said TV3 was no longer serving the youth end of the market and was now a mainstream station heavily dependent on simulcasts with ITV.

"There is an opportunity there for an entertainment service serving this crucial group. We believe a new entrant like ourselves should also drive down advertising costs. In recent times, there has been a lot of price inflation in reaching the 15 to 34 age group," he said.

He said he wanted Channel 6 to be available on Sky, NTL and Chorus.

Speaking at the Media Dialogues conference in Dublin, he said apart from RTÉ, TG4 and TV3, the Irish market was dominated by "passive" British stations which broadcast very little Irish content. He said these channels could be taking millions of euro out of the Irish advertising market each year.

Speaking to The Irish Times, Mr Murphy, who previously worked at TV3 and Eircom, said Channel 6 would be inviting programme proposals from independent producers soon and added that leading advertising agencies were also aware of Channel 6's plans.

He said €10 million was sufficient capital to start a new TV service and he was confident it could be profitable very quickly. He said the station would model itself on TG4, which had created a "whole new array of talent".

Mr Murphy added that while there would be considerable bought-in programming, Irish programmes would also be a key component.